Sunday, February 25, 2018

Venture-Backed BGI Genomics Completes $250M IPO On Shenzhen ChiNext

Chinese gene sequencing giant BGI Genomics Co., Ltd. today completed an initial public offering on the ChiNext board in Shenzhen, raising around RMB1.7 billion (US$250 million). The successful IPO comes after the company previously failed to list in the U.S. and Hong Kong, as well as an unsuccessful bit to achieve an A-share float via a reverse merger.

Chinese AI Start-Up SenseTime Raises $410 Million Series B Round

Chinese artificial intelligence start-up SenseTime has completed a US$410 million series B round, in what the company calls the largest private financing rounds ever closed by an AI start-up globally.

China’s Venture Capital Market Remains Strong As Deal Value Triples In Q2

China's venture capital market made strong gains in the second quarter of 2017, as the total value of new venture investments more than tripled to US$10.7 billion, compared to US$3.5 billion recorded during the first three months of the year, according to a KPMG report.

Legend Capital Leads $14M Round In Managed Cloud Firm Bespin Global

Legend Capital, the corporate venture capital investment arm of Chinese tech firm Legend Holdings Ltd., has led a series A round worth over RMB100 million (US$14 million) in Bespin Global, a South Korean start-up providing managed cloud services to medium and large enterprises globally.

GGV Leads $10M Round In Cross-Border E-Commerce Firm Yamibuy

China-focused venture capital firm GGV Capital has led a US$10 million series A round in Yamibuy, an e-commerce platform focused on selling specialty Chinese and Asian goods to Asian consumers living in North America. Chinese private education firm New Oriental Education & Technology Group Inc. also participated in the round.

WI Harper Joins New Founding Round In Chinese AI Cloud Firm CloudBrain

Chinese angel investor 10Fund has led a series A round worth tens of million RMB in CloudBrain, a U.S. and China-based artificial intelligence cloud start-up, with participation from WI Harper Group.

Qiming Leads $25M Round In Precision Medicine Solutions Firm QIAGEN Suzhou

China-focused venture capital firm Qiming Venture Partners has led a RMB175 million (US$25 million) series A round in QIAGEN (Suzhou) Translational Medicine Co., a Chinese precision medicine solutions provider.

Alibaba Entrepreneurs Fund Leads $14M Round In Cooking Video Producer DayDayCook

Alibaba Entrepreneurs Fund, an investment unit of Alibaba Group supporting start-ups in Hong Kong and Taiwan, has teamed up with Hong Kong businessman Adrian Cheng to lead a RMB100 million (US$14 million) series B round in DayDayCook, a Hong Kong-based start-up providing cooking videos and recipes.

Will VC Craze For Cashier-Free Stores Spark Retail Revolution?

In case you haven't heard, the next "big thing" after bike sharing has arrived. Welcome to the age of cashier-free convenience stores, the latest craze among venture capitalists in China. Since the launch of Amazon Go, the U.S. e-commerce giant's retail store that requires no cashiers and no check-out, the concept has been quickly adopted in China and taken to a whole new level.

Chinese Academy Of Sciences Unit Leads $22M Round In Robot Sensor Firm Slamtec

A fund managed by the Chinese Academy of Sciences Holdings Co., Ltd. has led a RMB150 million (US$22 million) round in Shanghai Slamtec Co., Ltd., a Chinese company providing affordable and high-performance laser sensor solutions for robots in auto localization and navigation.

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Quintech Exec on Where Software-Defined Radios Fit in Satellite

A soldier uses a Harris manpack radio. Photo: Harris.Quintech Electronics & Communications recently announced that a government contractor will use its Nexus-4 16 port mesh test matrix switch to expedite development of its Software-Defined Radio (SDR) systems. In an interview with Via Satellite, David Chan, Quintech’s vice president of sales and marketing, explained why SDR is critical to the satellite systems of today and the future, and how Quintech plans to position itself as the technology grows in use and capability.

Boeing Reports Strong Earnings in the Second Quarter

Logo atop Boeing headquarters. Photo: Boeing.Boeing reported a pop in earnings and operating cash flow in the second quarter of this year, driven by improved operating performance, according to the company. Revenue for the its network and space systems division came in at $1.7 billion, with operating margin increasing to 9.1 percent. Backlog for the full defense, space and security division was $58 billion, of which 37 percent represents orders from international customers.

Norwegian Microsatellite Deploys Antenna for VHF Data Exchange

Rendition of Norsat-1. Photo: ESA.The Norwegian Space Center has announced successful deployment of critical antennas and probes on the NORsat 1 and NORsat 2 microsatellites built by Canada’s Space Flight Laboratory (SFL), which launched on July 14 from Kazakhstan. Most notable was deployment of a large Yagi antenna from NORsat 2 that will provide first-of-its-kind Very High Frequency (VHF) Data Exchange (VDE) from space, according to the Norwegian Space Center.